OECD raises S. Korea's growth outlook to 2.6%

Assembly passes bill to launch new investigation into Itaewon tragedy in rare bipartisan cooperation

President Yoon Suk Yeol vowed to protect the "value of labor" as he marked Labor Day on Wednesday. Yoon also said in a Facebook post that South Korea's remarkable growth was thanks to the "sweat and efforts" of its 28.4 million workers. "The government and I will protect the precious value of labor without fail," he wrote. "We will make your workplaces safer and fairer, and thoroughly see to it that you can find the meaning of life through labor." Mea

In this series, The Korea Herald sits down with newcomers who were chosen by South Koreans to serve on the National Assembly for the next four years, to talk about their visions and takes on issues in Seoul and beyond. -- Ed. The complete denuclearization of North Korea is not only the ultimate goal but also a viable aim of the security efforts of South Korea and the US, according to Kim Gunn, who was until recently Seoul’s top nuclear envoy. Kim, who was elected by proportional representa

South Korean President Yoon Suk Yeol and his Angolan counterpart, President Joao Lourenco, agreed Tuesday to enhance economic and trade cooperation during their talks in Seoul, resulting in the signing of a strategic framework tailored to promote trade and investment. Lourenco became the second Angolan president to have visited South Korea, following Jose Eduardo dos Santos, who visited here in 2001. Korea and Angola established diplomatic ties in 1992. Yoon's office said agreements signed

The rival parties clashed on Tuesday over the possibility of adopting a new state pension reform plan, which pushes for an increase in contributions for a bigger future benefit. The new pension reform plan is based on a survey conducted and released by the parliamentary special committee on pension reform on April 21. The survey, which involved 500 respondents across the country aged 18 or older, showed that 56 percent preferred to pay significantly larger contributions to the National Pension S

Skeptics point to lackluster results of previous president-opposition leader meetings

President Yoon Suk Yeol held talks Monday with Democratic Party of Korea Chair Rep. Lee Jae-myung for the first time since taking office in May 2022, seeking the possibility of bipartisan cooperation after the opposition party's sweeping victory in the general election earlier this month. Lee, Yoon's former presidential rival, said his party would cooperate with the ruling bloc with regard to thorny issues such as the government's standoff with the medical circles that has left th

Election defeat has People Power Party shuffling its leadership

Pending Bill: Partial Amendment to the Financial Investment Services and Capital Markets Act Proposed by Yun Chang-hyun (People Power Party) ● Under the Financial Investment Services and Capital Markets Act, only regulations concerning issuance apply to investment contract securities due to their atypical characteristics and limited distribution potential. However, unlike before, online transaction platforms have made it easier for investors to trade investment contract securities. Therefore,

Ruling party denounces main opposition’s plans to pass multiple contentious bills

President Yoon Suk Yeol on Friday named a new chief prosecutor of the Corruption Investigation Office for High-Ranking Officials, after a vacancy of about three months. Oh Dong-woon, formerly a judge and attorney, was nominated to lead the CIO, which is currently spearheading a high-profile investigation into the death of a Marine in July last year. Cpl. Chae Su-geun died at the age of 20 when he was swept away in moving water during a search and rescue operation to find people who had gone miss

Major rivals to hold talks for first time since Yoon took office in May 2022

Main opposition leader Lee Jae-myung said Friday he will meet with President Yoon Suk Yeol without preconditions, after the two sides struggled unsuccessfully to set the agenda for what would be their first-ever talks since Yoon came into office. Yoon proposed a meeting in a phone call with Lee last Friday, after the ruling People Power Party was routed in the April 10 parliamentary elections, leaving the National Assembly under the control of Lee's Democratic Party. Details of the meeting,

Aides to President Yoon Suk Yeol and opposition leader Lee Jae-myung held their second meeting Thursday to coordinate the agenda for what would be the first-ever meeting between Yoon and Lee, but failed to reach an agreement, both sides said. Yoon proposed the meeting in a phone call with Lee last Friday, after the ruling People Power Party was routed in the April 10 parliamentary elections, leaving the National Assembly under the control of Lee's Democratic Party (DP). Thursday's prep